Fidget Spinners Go Viral, Become Fastest Growing Product Online Ever, Grows 2000% in 3 Months to Over $25M in Online Sales

Last week, all of the sudden, my 6-year-old son had to have a “fidget spinner.” It’s basically a ball-bearing spinner (like a top) that spins for over 2 minutes and you can do tricks with it. Turns out by the end of the week, pretty much everyone in his class had one. And people who didn’t have one yet were waiting for theirs to arrive in the mail. My co-workers’ kids also all have them now.

It occurred to me that this could be a part of a rare phenomenon where an unlikely and unpredictable product line just goes viral, like the pet rock or beanie babies (if we you were alive back then).

As a leader in e-commerce measurement, we’re in the unique position to actually quantify the volume happening with such trends. It’s a use case of our e-commerce insights suite that I think manufacturers should be using a lot more: identify new product trends before your competition.

Our e-commerce data confirms that fidget spinners are going viral right now. Over 30 million (projected) searches in our data last month! On Google Trends, there is almost as much search volume for ‘fidget spinner’ as there is for ‘Trump’.

In fact, based on search volume across major retailers like Amazon, fidget spinners are the fastest growing, high volume product line ever. Well, at least since we’ve been measuring e-commerce, which goes back to early 2014. The term ‘fidget spinner’ reached 1 million searches in the least amount of time. Between January and February 2017, search volume for ‘fidget spinner’ quadrupled. By the end of April, ‘fidget spinner’ had more than 25 million searches. We excluded smaller volume search terms from the analysis.

 

This massive growth in searches matches the trend of units sold and total sales of fidget spinners over time. The total number of fidget spinners sold online in April is 127 times greater than the number sold in January 2017. The amount of sales generated from fidget spinners in April online is 55 times greater than the total sales were in January 2017. No matter how you spin it, this product is experiencing massive growth!

 

For frame of reference, Fidget Spinner beat out top search terms by 300% including staples like laptops and the new Nintendo Switch.

 

Incidentally, I think I’ll start a “curtain” business. I had no idea people were searching so much for curtains online. I would not have guessed that to be a top 10 search.

CPG E-Commerce Surged 36% to over $10B in the U.S. in 2016

CPG E-Commerce Grows 36% in 2017

In July of 2016 we predicted based on 1H 2016 sales that consumer packaged goods (CPG) e-commerce sales would surpass $10 billion in the U.S. with 40% YOY growth. We were correct.

View our detailed CPG E-Commerce 2016 report here.

Here’s a copy of the press release and a summary:

1010data Releases Industry Report: Consumer Packaged Goods Online Sales Surge 36% and Hit $10 Billion in 2016 Across Key Categories

Health Supplements, Pet Care and Cosmetics Drove the Growth in 2016

NEW YORK – March 2, 2017 – 1010data, Inc., the only integrated platform that combines self-service data management and analytics at scale with ready-to-use data, today announced the results of its 2016 Online Consumer Packaged Goods (CPG) Industry Report. For the first time since 1010data began tracking this market, online CPG sales across key categories surpassed $10 billion. Of the CPG categories tracked by 1010data, the largest ones were health supplements, pet care and cosmetics, each of which generated more than $1 billion in sales.

Total revenue for key CPG categories in 2016 was $10.4 billion, up from $7.6 billion in 2015. The 2016 data showed a nearly even split in revenue between the first and second halves of the year, implying that consumers are buying CPG products online year-round and not just during the holiday season. Key findings from 1010data’s report include:

  • Health Supplements Was the Biggest Online CPG Category – With $2.6 billion in sales, health supplements represented 25 percent of total key CPG category sales and exceeded the size of the next biggest category by $1 billion.
  • Pet Care Grew 67 Percent Year Over Year – Pet care was the fastest-growing category among categories with at least $500 million in sales. Driven by specialty pet care sites with brands like Chewy and Drs. Foster & Smith, “natural” products experienced the most growth.
  • Laundry & Dish and Cleaners Continued Growing Due to Pantry Box and Subscription Models – Of categories with less than $500M in sales, laundry & dish and cleaners experienced the most growth, because pantry box and subscription options from companies like Amazon, Boxed and Jet have enabled customers to conveniently order and re-order products.

1010data’s report also notes that online CPG sales across key categories grew twice as fast as total ecommerce sales, which had a 16 percent year over year growth rate in 2016. Increasingly, more online retailers are offering two-day shipping and subscription services, which is driving the acceleration in CPG sales growth.

By analyzing top search terms, 1010data found that most consumers who buy CPG products online started their search on Amazon. The top search term on-site across all CPG ecommerce sites was “prime pantry,” powerfully demonstrating the mass appeal of subscription services online.

“With CPG sales hitting $10 billion in sales online across key categories, online ecommerce is clearly no longer an afterthought for brands,” said Jed Alpert, Senior Vice President of Marketing at 1010data. “All CPG brands need to understand how consumers are shopping in their categories and consider how ecommerce can help deliver a better experience and complement in-store sales.”

For a free download of the full report, please click here.

About the Study

Throughout 2016, 1010data tracked numerous sources of spending data, representing millions of consumers, to provide an accurate assessment of online and offline retail sales and market share. 1010data focused its research on key CPG categories: health supplements, pet care, facial care, cosmetics, drinks, snacks, baby, hair care, health over-the-counter (OTC), oral care, cleaners, shaving, hand body, laundry & dish, and sun care.

What Amazon’s Press Release Didn’t Tell You About Prime Day

Amazon’s second annual Prime Day came back with a vengeance. Last year, customers complained about a lack of enticing deals and limited availability on hot products to such a degree that the hashtag #PrimeDayFail started trending. As a result, Amazon promised to not disappoint their beloved Prime customers this time.

That promise paid off: Amazon announced that this was their biggest day ever; Prime Day sales increased 300% since last year. Amazon, however, left out specific information about which products, brands and categories won the day. Using 1010data’s Market Insights, we’re going to fill you in on everything that was not released by Amazon. We looked at the top 1000 items based on units sold and here’s what we uncovered.

View full post here: linkedin.com/pulse/what-amazons-press-release-didnt-tell-you-prime-day-aaron-mendes

Just Finished Watching The Big Short

Great movie. Gotta say, it’s pretty infuriating. And, as if we already forgot, the same cycle that keeps happening every 10-15 years is starting again just recently in 2015. Instead of a “credit default obligation” or CDO they are calling it a “bespoke tranche opportunity.” We really just don’t learn, do we? 

Bankers are always looking for a new fancy investment gimmick that can make them a bunch of money at the expense of the masses. I’ll be keeping a close eye on this development.

http://www.amazon.com/dp/B019969US8/

UPDATE 2016-07-25: I was actually lucky enough recently to meet the real person behind this movie, Steve Eisman, (played by Steve Carrell). I asked him about “bespoke tranche opportunities.” He said they are a non-event. They are not anywhere near as threatening as the ending of the movie implies. And he also said, as cynical as he is about the banks, he thinks history is not on track to repeat itself in the near future. Was refreshing to hear from the guy who foresaw the financial meltdown of 2008.

A Few E-Commerce Stats You Didn’t Know

E-Commerce

In  the past few months, our 1010data reports on e-commerce have been covered over 110 times by 100 major media publications. I figured I’d post some of the highlights.

Microsoft Surpasses Apple in Online Tablet Share for the First Time
Covered by: Forbes, FortuneBusiness Insider, The Register, Slashdot,VentureBeatYahoo! News, The Verge, and others.

Amazon Costs Google & Apple $100M/yr in Online Sales by Kicking Chromecast & Apple TV Out 
Covered by: Motley FoolInternational Business TimesVentureBeatBusiness InsiderYahoo! Finance, and others.

Samsung Seeks to Gain an “Edge” on the iPhone 6 Plus with the Galaxy Edge+ and the Note5 
Covered by: ZDNetInternational Business Times, and others.

Who is Winning in Wearables?
Covered by: Business InsiderYahoo Finance,  ZDNetBlue Springs Examiner,

CPG Killed it in E-Commerce in 2015
C
overed by: FortuneWall Street Journal, AdAge, MediaPost, and others.

Online Star Wars Toy Sales Hit 12-Month High with Upcoming Movie Release
Covered by: Bloomberg.

Artificial Intelligence (AI) is More Dangerous Than Every Other Threat Combined

Don’t want sound paranoid. If you know me, you know I’m pretty optimistic, logical, and super positive. But because people like Elon Musk and Bill Gates, geniuses whose technical and inventive prowess I respect highly, are terrified of the prospects of AI, I put some time into understanding their concerns.

After thoroughly researching the latest thinking by scientists on the subject, I tend to agree with their concerns. AI is the most likely cause of human extinction and it’ll happen so fast, we won’t even know what hit us until it’s too late.

I now believe that the threat of artificial super intelligence (ASI) is a greater threat than terrorism, nuclear war, pandemics, and global warming combined. It’ll happen faster and more outside of our control than any of those. And it appears to be inevitable. Good luck… us. 🙂

If you’re too lazy to read about it, here’s a video that summarizes the threat of artificial intelligence.

AI Surpasses Human Intelligence
AI Surpasses Human Intelligence

Here’s the realistic summary:

  1. By (pick a year in the next 40-50 years) 2054 computers have the processing power close to matching human brains.
  2. Hundreds of companies are building revolutionary technology that make lives better and easier for humanity that involve nearly human intelligent, self learning, self improving computers.
  3. One March 23, 2054 at 2:31 PM Eastern Time one of these companies makes an update to their software that passes the threshold between pre-human and post-human intelligence.
  4. That system begins immediately self improving at a rate faster than any human can conceive.
  5. By 3:30 PM the system has infiltrated the entire Internet and covertly begins executing its programmed goal, which typically involves eliminating any risks to achieving it, such as any human that could stop it. i.e. eliminate humanity.
  6. Thirty days later all humans are dead and the computer takes over the entire planet, then solar system, and then expands from there carrying out a programmed goal, call it, solving the number PI to ever increasing decimal points.

Continue reading “Artificial Intelligence (AI) is More Dangerous Than Every Other Threat Combined”

CPG Killed it in E-Commerce in 2015

Aaron Mendes

2015 was a massive growth year for most consumer packaged goods (CPG) categories online. According to estimates from 1010data, retail e-commerce sales grew by 30% over 2014. In store sales for most categories remained nearly flat (U.S. Census Dep’t).

While total e-commerce grew by 30%, CPG grew at an even faster pace of 42% year over year. Much of the growth was fueled by Amazon’s Subscribe and Save feature (SNS) being the default selection for many Amazon users as they check out. Over 20% of all growth in CPG came from SNS.

Continue reading “CPG Killed it in E-Commerce in 2015”

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